What Has Driven the Growth of the Analgesics Market in Recent Years?
The analgesics market has seen considerable growth due to a variety of factors.
• The size of the analgesics market has witnessed consistent growth over the past few years. This growth is projected to continue, with the market's value increasing from $109.97 billion in 2024 to $113.96 billion in 2025, reflecting a compound annual growth rate (CAGR) of 3.6%.
Several factors can explain this growth during the historic period, including the influence of alternative therapies, studies on safety and efficacy, the prevalence of pain, marketing and promotional strategies, and economic conditions.
What are the Forecasted Growth and Key Factors of the Analgesics Market?
The analgesics market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the size of the analgesics market is anticipated to steadily grow. By 2029, experts predict the market will be worth $129.46 billion, expanding at a compound annual growth rate (CAGR) of 3.2%.
The projected growth during this period is likely due to factors such as pain management alternatives, market competition, better health awareness among consumers, demographic changes, and an increase in chronic diseases. Noteworthy trends expected during this timeframe include the prominence of personalized medicine, the employment of non-opioid alternatives, the consumption of CBD and cannabinoids, focused pain management, and both the accessibility and affordability of analgesics.
What Are The Core Factors Supporting Growth In Analgesics Market?
The increase in occurrences of chronic illnesses is a significant driving factor for the analgesics market. Painkillers, alternatively known as analgesic drugs, are commonly used to mitigate severe or chronic pain stemming from various medical conditions. For example, a September 2022 report presented by WHO, a health organization based in Switzerland, there are conditions referred to as noncommunicable diseases (NCDs) often resulting from a mix of genetic, physiological, environmental, and behavioral factors over an extended period. NCDs are responsible for 41 million deaths annually, which comprises 74% of global deaths. Every year, 17 million individuals under the age of 70 succumb to NCDs. These premature deaths account for 86% of deaths in low to middle-income countries, with 77% of NCD-related deaths occurring in these nations. As a result, the surging prevalence of chronic diseases substantially contributes to the expansion of the analgesics market.
How Is the Analgesics Market segmented?
The analgesics market covered in this report is segmented –
1) By Type: Non-opioids, Opioids
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Drug Stores
3) By Application: Internal Analgesics, External Analgesics
Subsegments:
1) By Non-Opioids: Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Acetaminophen (Paracetamol), Salicylates
2) By Opioids: Natural Opioids, Semi-Synthetic Opioids, Synthetic Opioids
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What New Trends Are Influencing the Analgesics Market?
The analgesics industry is observing an upward trend in investment as a growth tactic. Dominant manufacturers of analgesic drugs are injecting capital into clinical-stage firms in order to secure a competitive edge and fortify their market presence. Such investments assist companies in broadening their global footprint and harnessing specialized know-how in the invention and enhancement of new products. For example, in January 2022, Concentric Analgesics, Inc., an American clinical-stage biopharmaceutical establishment, declared the successful completion of a $20 million convertible note financing round with an assorted group of new and existing investors. This financial backing will instigate registration-triggering Phase 3 trials for Vocacapsaicin, their lead product candidate on the verge of Phase 3. This financing will also enable the extension of Phase 3 development activities for Vocacapsaicin, which is their principal therapeutic candidate for post-surgery pain relief. The completion of this financing round is a significant milestone for Concentric Analgesics, as it clears the path for the progression of Vocacapsaicin into Phase 3 development and stands as a crucial first move toward completely financing the program up to NDA submission.
Who Are the Key Players in the Analgesics Market?
Major companies operating in the analgesics market include:
• Pfizer Inc.
• Johnson & Johnson Services Inc.
• Medley Pharmaceuticals Limited
• AbbVie Inc.
• Bayer HealthCare Pharmaceuticals LLC
• Novartis International AG
• Sanofi SA
• Bristol-Myers Squibb Co.
• AstraZeneca Plc.
• Abbott Laboratories
• GlaxoSmithKline plc
• Takeda Pharmaceutical company Limited
• Eli Lilly and Company
• Reckitt Benckiser Group plc
• Viatris Inc.
• Teva Pharmaceuticals Industries Ltd.
• Sun Pharmaceutical Industries Limited
• Purdue Pharma L.P
• Cipla Limited
• Allergan Inc.
• Endo International plc
• Amneal Pharmaceuticals LLC
• Mallinckrodt Pharmaceuticals Ltd.
• Chattem Inc.
• Hisamitsu Pharmaceutical Co.Inc.
• GW Pharmaceuticals
• Verve Health Care Ltd.
• Alder BioPharmaceuticals Inc.
• Achelios Therapeutics Inc.
• WEX Pharmaceuticals Inc.
• Zynerba Pharmaceuticals
• McNeil Consumer & Specialty Medical Products
• Innovative Med Concepts LLC
What Is The Most Dominant Region In The Analgesics Market?
North America was the largest region in the analgesics market in 2024. Middle East is expected to be the fastest-growing region in the global analgesics market during the forecast period. The regions covered in the analgesics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
